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Management process - Coggle Diagram
Management process
PLANNING
MEANING: Planning is the function of management that involves setting objectives and determining a course of action for achieving those objectives DEFINITION:
1.ALLEN,"A plan is a trap laid to capture the future"
2.KAST AND ROSENZWEIG,"A plan is a determined course of action"
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IMPORTANCE OF PLANNING
1.to manage by objectives
2.convert uncertainty into certainty
3.economy in operation
4.help in co-ordination
5.tackling increasing complexities of business
6.effective control
7.effective utilisation of resources
8.avoiding business failures
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LIMITATIONS OF PLANNING
1.inflexibility
2.limitation of forecasts
3.unsuitability
4.time consuming
- costly
6.mental ability
7.false sense security
8.delay during emergency period
9.capital investment
10..political climate
11.trade unions
12.technological changes
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F.W.TAYLOR
1.Father of scientific management
2.He proposed that by optimizing and simplifying jobs, productivity would increase
3.He also advanced the idea that workers and managers needed to cooperate with one another
4.The workers are selected scientifically
5.Maximum prosperity to the employee must be the primary objective
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DECISION MAKING
DEFINITION
george r terry,"decision making is the selection based on some criteria from two or more possible alternatives"
MEANING
a decision may be a direction to others to do or not to do
there are number of alternatives to the management the best one is selected out of the available alternatives
PROCESS
1.identification of the problem
2.diagnosing the problem
- collect and analyse the relevant informations
4.discovery of alternative course of action
5.analysing the alternatives
6.screening of alternatives
- selection of best alternatives
8.conversion of decision into action
9.implementation
10.verifying the decision
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